Second Circuit Affirms Option Backdating Conviction


The U.S. Court of Appeals for the Second Circuit recently affirmed the conviction of James Treacy, the former Chief Operating Officer and President of Monster Worldwide, Inc., in connection with a conspiracy to backdate stock options. In September 2009, Mr. Treacy was sentenced to 24 months' imprisonment and ordered to pay restitution and forfeiture of over $6 million. Mr. Treacy appealed his sentence arguing, among other things, that (1) the district court abused its discretion in conducting voir dire when it declined to question prospective jurors about their views on corporate America generally, and (2) the district court committed clear error in calculating the forfeiture amount.

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